Stock-market related price determination in consideration of time dynamic cost factors

Abstract

Providing their customers with the most accurate pricing has become one of the key competitive factors ensuring commercial success for tool and mould manufacturers. However, time dynamic costs influence the pricing calculations significantly, indeed, they are rarely taken into consideration adequately. This paper presents an approach which allows to improve conventional tool performances by developing a novel forecasting method which combines mechanisms related to the stock market with techniques of stochastic prediction methods.